American Express will acquire AOL co-founder Steve Case's Revolution Money Internet-based payment platform for $300 million, the credit card company and network said Wednesday.
U.S. credit card defaults fell more than expected in October, but delinquencies rose in a sign that consumers remain under stress and the sector can expect more pain ahead, credit card companies reported on Monday.
Monday, 16 Nov 2009 | Source: The Associated Press
MasterCard is pushing its long-running "Priceless" campaign into the holiday realm this year with a Web site that helps people set up shopping lists for their Facebook friends and choose gifts based on offerings from Amazon.com.
Banks are struggling to make money in the credit card business these days, and consumers are paying the price. Interest rates are going up, credit lines are being cut and a variety of new fees are being imposed on even the best cardholders. The New York Times reports.
Stocks finished mixed Tuesday as techs struggled after a downgrade on Intel. Transports rose following news that that Warren Buffett is buying Burlington Northern railroad. Industrials also gained after this week's encouraging manufacturing reports.
Stocks tumbled Tuesday, led by techs after an analyst downgrade on Intel. Transports rose following news that Warren Buffett is buying Burlington Northern railroad.
MasterCard reported higher-than-expected quarterly earnings Tuesday as the world's second-largest credit card network raised fees to banks and cut expenses, while consumers used their debit cards more.
With the markets in volatility mode, investors will likely be focusing on the Federal Reserve Tuesday, even though the 2-day Federal Open Market Committee meeting that begins this afternoon won't conclude until Wednesday.
Futures indicated a lower open for Wall Street on Wednesday as investors paused ahead of key U.S. data, having pushed markets to 11-month highs the previous day,
In Monday's rally, the sector topping the tape was Financials, and leading the way were credit card stocks, notably American Express, Discover and Capital One... Read More